NexPoint Fully Subscribes $46 Million Self-Storage DST Offering
Alternative investments firm NexPoint has fully subscribed its NexPoint Storage V DST. The Delaware statutory trust offering has reached its total goal of $46 million in equity raised since its launch in June, previously reported by The DI Wire.
The offering includes two Class A storage facilities located in Cape Coral, Fla., and Dundalk, Md. Both facilities will be managed by Extra Space Storage, a third-party manager of self-storage properties in the United States.
“We continue to see positive growth and opportunity in the self-storage sector and are grateful to our partners who helped fully subscribe our fifth self-storage offering and bring that opportunity to investors,” said Matt McGraner, chief investment officer and executive vice president of NexPoint.
The properties benefit from being accessible to high-growth metropolitan statistical areas, some of which have exhibited above-average population and job growth over the last five years. The assets include the amenities and characteristics of state-of-the-art storage facilities, including climate-controlled units in one self-contained multi-story building.
“With the strong demand for these specialized, modern assets, we are excited to continue to provide access to this segment of the self-storage sector,” added McGraner.
According to NexPoint, its self-storage platform was developed from the ground up by entrepreneurial developers with substantial experience selecting, acquiring, and entitling sites for self-storage development. Today the platform is comprised of an investment portfolio, including wholly-owned and managed vehicles and DSTs, valued at approximately $2 billion.
Over the summer, the company launched NexPoint Small Bay II DST, which is comprised of small bay industrial properties in the Orlando-Kissimmee-Sanford metropolitan statistical area and seeks to raise $39 million.
NexPoint is comprised of a group of affiliated investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. Based in Dallas, NexPoint provides access to alternatives through a range of investment solutions, including public and private real estate investment trusts, tax-advantaged real estate vehicles, merger arbitrage and event driven strategies, other private real estate investments, closed-end funds, interval funds, and a business development company.
Click here to visit The DI Wire directory page.
